ISM Manufacturing PMI For July 46.4 Vs 46.8 Expected; 46.0 Prior
Portfolio Pulse from Benzinga Newsdesk
The ISM Manufacturing PMI for July came in at 46.4, slightly below the expected 46.8 and above the prior figure of 46.0.
August 04, 2023 | 8:21 am
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The lower than expected PMI could potentially impact the SPY ETF, as it indicates a slower growth in the manufacturing sector.
The ISM Manufacturing PMI is a key indicator of the economic health of the manufacturing sector. A lower than expected figure suggests slower growth in the sector, which could potentially impact the SPY ETF, as it is a broad-based index fund that includes companies from the manufacturing sector.
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